Global Gold Price Plummets to Rp80 Million, Here Are the Main Causes
Jakarta – The global gold price hit its lowest level in nearly a week during trading on Monday, 13 April 2026. The precious metal was pressured by the strengthening US dollar and a surge in oil prices, which have dampened expectations for interest rate cuts by the Federal Reserve (The Fed) this year.
Various negative sentiments followed the failure of peace negotiations between the United States (US) and Iran. This has triggered concerns over inflation.
According to CNBC International, the spot gold price fell 0.6 percent to US$4,718.98, or approximately Rp80.75 million (estimated exchange rate of Rp17,110 per US dollar) per ounce at 02:22 GMT. Gold even touched its lowest level since 7 April 2026.
Meanwhile, US gold futures for June delivery weakened 1 percent to US$4,742, or approximately Rp81.14 million per ounce. The spot gold price has declined more than 11 percent since the US-Israel war in Iran began on 28 February 2026.
“Optimism regarding a ceasefire has waned after the failure of peace talks, and the resulting boost to the dollar and oil prices has put gold under pressure again,” said Tim Waterer, Head of Market Analysis at KCM Trade.
In addition to gold, other precious metals also moved variably. The spot silver price fell 2.2 percent to US$74.23 per ounce, platinum weakened 0.5 percent to US$2,034.95, while palladium rose 1 percent to US$1,535.77 per ounce.
As one of the main factors pressuring gold prices, the US dollar strengthened by around 0.4 percent. This surge makes gold, priced in dollars, more expensive for holders of other currencies.
On the other hand, global oil prices also rose above US$100 per barrel following the failure of peace talks between the US and Iran, accompanied by plans for a US Navy blockade of the Strait of Hormuz. The rise in energy prices has sparked concerns over global inflation.
“As soon as oil prices rose back above $100, attention quickly shifted to the potential for central bank rate hikes to curb inflation, and it is these interest rate prospects that have weakened gold’s performance,” Waterer continued.
Iran’s Revolutionary Guard warned that any military vessel approaching the area would be considered a violation of the ceasefire and would be dealt with harshly.